Chromite may not be as exciting as Nickel/PGMs/Gold/Copper/Zinc but if it pays the bills who cares. Most of us older guys aren't terribly exciting either but seems no shortage of 'trophy wives'.

With today's news one would think it puts still more pressure on a motivated 'Major' to step up to the plate and enter serious negotiations.

We all have our preferences as to the kind of deal we'd favour but it will come down to what minimizes the 'Majors' risk and maximizes their return while being only just generous enough to get the deal done.

Not has indicated they have no intention of funding the amount of drilling required to define a chromite resource (43-101) and none of the others with chromite hits, or who are likely to have chromite on their claims, have that kind of money either.

So a major is going to have to come in and commit to a massive drill program to firstly prove there is sufficient chromite tonnage/grade to support cost of progressing to mining. Next step would be continuing drilling to get to 43-101 stage so all the parties to 'the deal' have idea of their part of the chromite. Then move on to complete study on moving to mining stage.

Does anybody expect said 'Major' to pay up front in addition to spending $50 Million dollars PLUS. Or to exclude completely other metals from the 'deal'? Seems to me that like it or not the deal will be a complicated jv between major and junior partners. Lots of levels of earn in percentages as money is spent and stages completed, maybe net smelter royalties.

BIG? Almost certainly the jv deal involved will be in the hundreds of millions of dollars and claim world wide attention.

Good for Noront? 30, 40 or 50% of the kind of assets that will be turned up by massive drill program will dwarf the 100% of what we know, think or even wish Noront has.

Biggest question remaining is WHEN and that should scare the pants of anyone not owning Noront or heaven forbid shorting shares. Could come next week, month or year and don't expect even a whiff of rumour cause negotiations would be locked down tight.